In a defining moment for Namibia’s burgeoning energy sector, London-based GRIT Investment Trust Plc (GRIT) has announced a proposed strategic reverse takeover to acquire Nabirm Global LLC. This landmark partnership arrives as Namibia solidifies its position as the world’s next great energy frontier, coinciding with President Netumbo Nandi-Ndaitwah’s decisive actions to ensure the highest standards of governance and oversight across the petroleum sector.
The transaction represents a powerful vote of confidence in Namibia’s regulatory framework and long-term potential. Built upon a formal valuation framework predicated on rigorous pre- and post-money metrics, the deal exemplifies the financial discipline and transparency that will characterize the nation’s energy development. “The potential Nabirm acquisition is not just a transaction, it’s a redefinition of GRIT’s strategic direction,” the company’s director Martin Lampshire stated. “We are building the foundation for long-term value creation through targeted investments in high-potential, transparent projects that align with Namibia’s vision for its resources.”
A key benefit of the RTO and the ensuing London listing is the substantial strengthening of Nabirm’s board and governance framework. The company will welcome Henry Campbell Bellingham, the Lord Bellingham, as an Executive Director and Stephan Olivier as a Non-Executive Director. This infusion of high-level expertise in international diplomacy and complex finance directly enhances the company’s capacity to navigate global markets and execute its long-term strategy.
This vision was powerfully echoed by Nabirm’s leadership, which emphasized the partnership’s alignment with national priorities. “Capital markets demand proven merit, and our 13-year commitment to Namibia has prepared us for this moment,” said Nabirm CEO Olayinka Arowolo. “The Walvis Basin represents not just a geological opportunity, but a national one. This partnership provides the platform to leverage our operations as a springboard for responsible growth, built upon the same foundation of technical excellence and regulatory compliance that both we and the Government of Namibia insist upon.”
National standard
The proposed transaction is bolstered by GRIT’s successful £250 000 (about N$5.8 million) fundraising exercise, arranged by Peterhouse Capital Limited. These funds are expressly earmarked to support the rigorous due diligence process and ongoing corporate activities, underscoring a disciplined financial approach.
Since its founding in 2012, Nabirm has established itself as a serious, technically-driven explorer in the world-class Walvis Basin, operating alongside global energy leaders including Chevron, Shell, and TotalEnergies. The company’s N$34 million investment in exploration to date demonstrates its long-term commitment to Namibia’s energy future.
The partnership is now poised to advance this work through ground-breaking technology, with N$52 million allocated for 3D Controlled Source Electromagnetic survey. This pioneering program, pending final agreements and approvals from the Namibian government and the newly established Upstream Petroleum Unit, represents exactly the type of innovative, compliant development that benefits both investors and the nation. The comprehensive technical program—combining cutting-edge survey technology with satellite studies and seismic reprocessing—will generate a Competent Person’s Report that sets new standards for data-driven exploration in Namibian waters.
Energy future
As Namibia stands at the threshold of unprecedented energy development, the Nabirm-GRIT partnership demonstrates how international investment and national interest can align to create lasting value. The commitment to transparency, technical rigor, and regulatory compliance shown by both companies reflects the high standards set by Namibia’s leadership and the expectations of its people.
This partnership serves as a model for how Namibia’s energy sector can achieve its tremendous potential, while maintaining the governance standards that ensure sustainable benefits for all stakeholders. In positioning the Walvis Basin as the next great energy province, Namibia continues to attract partners who respect its resources, its people, and its commitment to doing business with integrity.